President Trump commemorates America’s 250th anniversary with Independence Day speech
President Donald Trump gave a late-night speech on the National Mall to commemorate the nation’s 250th anniversary.
President Donald Trump rang the opening bell at his ceremonial desk Monday morning, bringing stock market symbolism to the Oval Office and encouraging American parents to open new investment accounts for their children.
The businessman-turned-president has long prided himself on the stock market’s performance during his time in office, and has rang the opening bell before. But this time, he rang the bell for both the New York Stock Exchange and the Nasdaq, the first time he brought so many people from Wall Street directly into the heart of the White House.
Young children in their Sunday best were also standing next to his desk. Their parents now have an account the president has dubbed the Trump Account, which allows them to invest in the stock market on their behalf. Other loved ones can also put in money, and once the kids turn 18, they can use that money to buy a house or go to college.
“This week, $800 million in new money will be invested in the stock market for America’s children, through private donations and seed funds,” President Trump said, flanked by Treasury Secretary Scott Bessent, members of Congress and other officials.
The Treasury Department plans to deposit $1,000 in government funds into the accounts of children born between 2025 and 2028. Separately, the Dell Foundation will deposit $250 into the accounts of children under the age of 10 born before 2024. Many private companies also put money into accounts opened by employees for their children.
“There’s really no cost involved,” Trump said. “We give this money to kids so they can have a good life from an early age.”
The funds in these accounts go directly into a single fund managed by investment firm State Street. The fund trades on the New York Stock Exchange under the symbol SPYM and tracks the overall performance of the stock market’s largest companies.
Fund managers charge fees, but SPYM is considered one of the lowest cost investment options of its kind. In due course, the Treasury announced that it had selected four other low-cost funds that parents could choose from instead.
Sen. Ted Cruz (R-Texas) congratulated the children in attendance on receiving $250 from those in the room and explained how the new account would work.
“Do you know McDonald’s?” he asked. “Now you can own a little bit of McDonald’s. When you go to McDonald’s, you can look around and say, ‘I own this place!'”
In a kid-in-a-candy-store moment, President Trump told the group how much he loved having an opening bell on his desk.
“You mean the unanswered bell?” Trump joked.
